Steinhoff settlement sends shares soaring
Steinhoff global settlement – agreement with Deloitte and Conservatorium
Steinhoff International Holdings N.V. (“SIHNV” or the “Company”, together with its subsidiaries, “Steinhoff” or the “Steinhoff Group”) announces the following update on implementation of its proposal to resolve the various multi-jurisdictional legacy litigation and claims against the Steinhoff Group, including those against former South African holding company Steinhoff International Holdings Proprietary Limited (“SIHPL”).
Conservatorium
Following a number of constructive engagements between the parties today an agreement has been reached, in principle, between, among others, SIHNV, SIHPL, Conservatorium Holdings LLC (“Conservatorium”) and certain entities linked to Christo Wiese. This agreement is subject to a number of conditions. The result of the agreement reached among the parties is that Conservatorium will withdraw its application to
Steinhoff said on Monday former auditor Deloitte has agreed to pay $85 million to certain claimants as part of the retailer's proposed $1 billion global lawsuit settlement plan, and that a company opposing the plan had withdrawn its court application.
DGAP-News: Steinhoff International Holdings N.V. / Key word(s): Miscellaneous Steinhoff International Holdings N.V. : STEINHOFF GLOBAL SETTLEMENT - UPDATE ON DUTCH HEARING 08.02.2021 / 13:00 The issuer is solely responsible for the content of this announcement. STEINHOFF GLOBAL SETTLEMENT.
DGAP-News: Steinhoff International Holdings N.V. : UPDATE ON STEINHOFF GLOBAL SETTLEMENT
vom 14.01.2021, 16:15 Uhr
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Steinhoff International Holdings N.V. : UPDATE ON STEINHOFF GLOBAL SETTLEMENT
14.01.2021 / 16:15
UPDATE ON STEINHOFF GLOBAL SETTLEMENT
Steinhoff International Holdings N.V. (
SIHNV ) announces the following update on the implementation of its proposal to resolve the various multi-jurisdictional legacy litigation and claims against SIHNV (together with its subsidiaries,
Steinhoff ) including those against the former South African holding company Steinhoff International Holdings Proprietary Limited (
SIHPL ).
SIHNV first announced its proposed global settlement in July 2020, at which stage it indicated that prior to launch of any implementation proceedings Steinhoff would, amongst other things, need the approval of its financial creditors.